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The interests of the public and consumers are at the heart of all that we do. We drive to be a transparent, fair and effective regulator, which is reflected in our recent work to streamline our processes, identify and remove regulatory burdens and become more risk-focussed. We are keen to ensure that our policy proposals are prepared to take account of the value, costs and benefits of alternative options for all stakeholders.

While keeping the public and consumers at the forefront of our work, we must also balance these interests with creating a regulatory environment which supports growth in the aviation sector and avoids imposing unnecessary burdens on the industry.

Our principles are reinforced by the government's Better Regulation framework and its
Regulators' Code, to which all UK regulators must comply. The Code's core principles are:

Proportionality - Regulators should intervene only when necessary; remedies should be appropriate to the risk posed, and costs identified and minimised.

Accountability - Regulators should be able to justify decisions and be subject to public scrutiny

Consistency - Government rules and standards must be joined up and implemented fairly

Transparency - Regulators should be open and keep regulations simple and user-friendly

Targeting - Regulation should be focussed on the problem and minimise side effects

"The Growth Duty" requires regulators to consider the economic consequences of their actions; be proportionate in their decision making; and to keep regulatory burdens to a minimum. The Duty will apply to the CAA and is expected to come into effect in Autumn 2016. We will be required to report on our compliance with the Duty annually.

We already undertake assessments for our regulatory activities that have an impact on business as part of our policy development process. New requirements from government make this a statutory requirement. The Business Impact Target (BIT) will apply to all CAA measures that regulate the activities of business and contribute towards the government's target for deregulatory savings.

The BIT has been applied retrospectively so relevant regulatory activities that we have carried out since May 2015 need to be reported on. Included activities are defined as Qualifying Regulatory Provisions (QRP). Activities that can be excluded from the BIT are defined by as Non Qualifying Regulatory Provisions.

Under section 24A of the Small Business, Enterprise and Employment Act we are required to publish, for each reporting period, a list of QRPs, an assessment of the economic impact on Business of those QRPs and a summary of regulatory provisions that are not QRPs (NQRPs).